While I find Milei to be an unequivocal piece of shit, this chart isn’t strictly speaking telling a good story against him here. He’s only been in power for the very last part of the chart, and before he was in power the currency exchange rate was being held at an artificial point leading to a black market exchange rate developing. This hides some of the real inflation in the chart. The first move he made was to move the artificial number closer to the black market rate - which everyone in the country basically treated as the real rate - meaning that this would make his actions look bad on this chart, when in reality he was not actually responsible for that particular bout of inflation.
In reality, Milei has managed to reduce the rate of inflation in Argentina, which was nothing short of disastrous in the decades before. His methods have basically been to accomplish that at the expense of the poor though, so it’s really a case of treating your sore thumb by cutting off the whole hand, but that’s a different topic altogether.
Javier Milei, the president Elon is referring to, took office 2024. Argentina was fucked before, which is why people voted anyone who promised a bright future.
It turns out that for a bright future, you also need to have a bright president. Maybe next time, Argentina, until then, OnlyFans is full of Argentinians suddenly.
He means later when billionaires buy everything for pennies on the dollar
In fairness that doesn’t look like it was Mileu’s fault, but he was also obviously never going to help
He cut spending during a recession.
He’s a fucking idiot.
Reducing spending slows inflation. You can have a recession and high inflation, both together is very bad for economy.
Increasing demand for a currency reduces its inflation (relative to other currencies).
You don’t know what you’re talking about.
He didnt start it, but he certainly made it worse
I have a Swedish friend who figured it was better to move to Argentina than stay in Scandinavia. I’m starting to wonder if he regrets it.
Maybe if he has money coming in from Sweden every month. Possible if he had savings, or if he’s gaming the social security somehow.
Why does the it go to -0.01? How bad can you mess up to have your currency value get into the negatives?
